Business Directories

Abu Dhabi inflation eases to 1pc in Feb

Abu Dhabi, March 14, 2013

Abu Dhabi inflation eased to one per cent year-on-year in February due to a drop in the housing and utility costs compared to last month, said a report.

The "restaurants and hotels" and "alcoholic beverages and tobacco" groups rose 11.7 per cent each year-on-year, while "clothing and footwear" gained three per cent, according to Abu Dhabi Statistics Centre.

However, the housing, water, electricity, gas and other fuels registered a 1.1 per cent drop, the report added.

Analysts polled by Reuters in January forecast average UAE inflation would accelerate to 1.8 per cent in 2013 from 0.7 per cent in 2012, which was the lowest level since 1990.-Reuters